The judge hearing a massive civil fraud lawsuit against former President Donald Trump, his businesses and three of his adult children ordered the appointment of a monitor with sweeping authority to oversee all Trump-related business operations.
Acting Manhattan Supreme Court Justice Arthur Engoron issued the ruling after hearing arguments from the New York Attorney General's Office, which filed the lawsuit and sought the appointment, and a lawyer for Trump, who said the Attorney General' lacked the authority and legal standing to seek a preliminary injunction appointing the monitor and to pursue the lawsuit.
The businesses must give the monitor at least a 30-day advance notification of any planned reorganization or restructuring of the Trump Organization. Engoron set a Nov. 10 deadline for the submission of up to three monitor candidates each from state officials and Trump lawyers. “Today’s decision will ensure that Donald Trump and his companies cannot continue the extensive fraud that we uncovered," James said in astatement."No number of lawsuits, delay tactics, or threats will stop our pursuit of justice."
The lawsuit argues that Trump was part of a 10-year scheme"that grossly inflated" his personal net worth by billions of dollars, and then used the higher values"to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available." He said the recent creation of the Trump Organization II required a legal block preventing the new organization or other entities from receiving financial transfers from Trump's long-existing businesses. Any such transactions could foil efforts to enforce the $250 million in penalties demanded by the lawsuit, said Wallace.
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